Comparing the current results to its competitors, Ben Franklin Financial Inc reported Revenue decrease in the 4 quarter 2016 year on year by -4.4 %, despite the revenue increase by the most of its competitors of 10.52 %, recorded in the same quarter.
Ben Franklin Financial, Inc., despite income growth by most of its competitors recorded a net loss, despite income increase by most of its competitors of 145.38 %
Ben Franklin Financial Inc's Comment on Competitors and Industry Peers
We face intense competition within our market area both in making loans and
attracting deposits. The Chicago metropolitan area has a high concentration
of financial institutions, including large money center and regional banks,
community banks and credit unions, all of which are our competitors to varying
degrees. Most of our competitors are significantly larger institutions with
greater financial resources than we have, and many offer products and services
that we do not or cannot provide.
Our competition for loans and deposits comes principally from commercial banks,
savings institutions, mortgage banking firms and credit unions. We face additional
competition for deposits from short-term money market funds, brokerage firms,
mutual funds and insurance companies. Our deposit sources are primarily concentrated
in the communities surrounding our banking offices located in Arlington Heights
and Rolling Meadows in Cook County, Illinois.